Middle East Economic Survey
Reserve Based Lending Continues, Despite Credit Crunch
The reserve based lending (RBL) market has not been shut down despite the financial crisis although banks have become more selective. The changes the market has undergone as a result of the credit crunch mirror those in project finance (MEES,18 May). On top of the current deal flow of mid-sized oil and gas independents, new players such as national oil companies (NOCs) and...